Andar Capital Management HK Ltd Increases Position in Cloudflare, Inc. (NYSE:NET)

Andar Capital Management HK Ltd lifted its holdings in Cloudflare, Inc. (NYSE:NET) by 44.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,600 shares of the company’s stock after purchasing an additional 17,600 shares during the quarter. Cloudflare accounts for approximately 6.6% of Andar Capital Management HK Ltd’s investment portfolio, making the stock its 4th biggest holding. Andar Capital Management HK Ltd’s holdings in Cloudflare were worth $4,771,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Riverview Trust Co bought a new stake in shares of Cloudflare in the first quarter worth $27,000. Allspring Global Investments Holdings LLC lifted its position in shares of Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Cloudflare during the second quarter worth $29,000. Versant Capital Management Inc increased its holdings in Cloudflare by 1,202.9% during the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after buying an additional 421 shares during the last quarter. Finally, ICA Group Wealth Management LLC acquired a new position in Cloudflare during the fourth quarter worth $38,000. Institutional investors own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NET shares. Cantor Fitzgerald boosted their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. The Goldman Sachs Group lowered their target price on shares of Cloudflare from $77.00 to $68.00 and set a “sell” rating on the stock in a report on Tuesday, June 4th. Guggenheim boosted their target price on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. Morgan Stanley restated an “equal weight” rating and set a $92.00 target price on shares of Cloudflare in a report on Monday, June 17th. Finally, Susquehanna boosted their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $92.29.

Cloudflare Trading Down 1.0 %

Shares of Cloudflare stock opened at $79.14 on Wednesday. The firm has a 50-day moving average of $79.52 and a 200-day moving average of $82.67. The stock has a market cap of $26.89 billion, a PE ratio of -149.32 and a beta of 1.10. Cloudflare, Inc. has a 52-week low of $53.88 and a 52-week high of $116.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. Cloudflare’s quarterly revenue was up 30.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.12) earnings per share. As a group, sell-side analysts forecast that Cloudflare, Inc. will post -0.12 EPS for the current year.

Insider Buying and Selling

In related news, COO Michelle Zatlyn sold 102,580 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $82.52, for a total transaction of $8,464,901.60. Following the completion of the sale, the chief operating officer now owns 211,394 shares of the company’s stock, valued at $17,444,232.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Michelle Zatlyn sold 102,580 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $82.52, for a total transaction of $8,464,901.60. Following the completion of the sale, the chief operating officer now owns 211,394 shares of the company’s stock, valued at $17,444,232.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Janel Riley sold 3,495 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $81.65, for a total transaction of $285,366.75. Following the sale, the chief accounting officer now directly owns 80,183 shares of the company’s stock, valued at approximately $6,546,941.95. The disclosure for this sale can be found here. Insiders sold 584,882 shares of company stock valued at $47,094,359 over the last quarter. 12.83% of the stock is owned by company insiders.

Cloudflare Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.